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Stock Market & Financial Investment News

News Breaks
July 29, 2014
06:47 EDTC, HSBCCiti looks to hire 100 Asia unit bankers to rival HSBC, Reuters says
Citigroup (C) is aiming to hire nearly 100 bankers in its Asia-Pacific commercial banking division in a renewed push to mirror the strategy of rival HSBC (HSBC), which focuses on selling smaller corporate customers a broader range of products, according to Reuters, citing comments from Citi's Asia-Pacific commercial banking head Ashish Bajaj. Reference Link
News For C;HSBC From The Last 14 Days
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August 3, 2015
05:45 EDTHSBCHSBC to sell Brazil business to Banco Bradesco
HSBC (HSBC) entered into an agreement to sell its entire business in Brazil, comprising HSBC Bank Brasil S.A Banco Multiplo and HSBC Servicos e Participacoes Ltda, to Banco Bradesco (BBD) for an all cash consideration of $5.2B. This represents a price to tangible book value multiple of 1.8x based on 30 June 2015 accounts. As at the completion of the transaction, the purchase price is subject to adjustment to reflect the movement in the net asset value of the business between 31 December 2014 and completion. The transaction is expected to be a key contributor to the investor update action to reduce Group RWAs, accounting for $37B of the overall $290B planned reduction, enabling future redeployment of RWAs to support growth opportunities. The transaction is subject to regulatory approval. HSBC plans to maintain a presence in Brazil to serve large corporate clients with respect to their international needs. Reference Link
August 2, 2015
18:48 EDTHSBCHSBC to announce forex charge 'well over' $1B, Sky News says
As part of its forthcoming interim results, HSBC will report a charge "well over" $1B related to alleged foreign exchange manipulation, reports Sky News, citing sources. Reference Link
July 31, 2015
13:34 EDTHSBCHSBC close to $4B sale of Brazil unit to Bradesco, FT reports
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13:30 EDTHSBCHSBC technical notes before results
There is a potential double bottom pattern on the long-term chart that would likely become active on positive news. Price is currently poised at $45.13 and only a small advance in price would be needed for the pattern to become active. Upside potential for the pattern would be to the $50 to $52 area. If the news is bearish, a drop below $41.20 would void the double bottom. Next support levels to watch in that event would be at $40.23 and $38.88.
06:40 EDTCU.S. banks prepared to take advantage of Euro lenders' cautions, WSJ says
U.S. banks are preparing to advance in the sector after reporting earnings, with executives touting the gloom coming from their European counterparts as a major opportunity to capitalize on their newfound advantage, the Wall Street Journal reports. On Thursday, Deutsche Bank (DB) CEO John Cryan said that the company must "shrink" its balance sheet, while Barclays (BCS) chairman John McFarlane said that Wall Street lenders are "an enormous threat" to Euro investment banks, the report says. On the other hand, Morgan Stanley (MS) chairman James Gorman said after reporting earnings last week that the company is poised to advanced in the debt trading sector, and that "there's a potential for, over a period of time, share gain for our business," the report says. In addition, Goldman Sachs finance chief Harvey Schwartz said that the company is "seeing potential big restructuring on the European side," the report adds. Publicly traded companies in the European space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Publicly traded companies in the U.S. space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 28, 2015
09:32 EDTCCaterpillar announces $1.5B accelerated stock repurchase
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July 24, 2015
10:46 EDTCCiti's Mexico unit facing expanding money laundering probe, Bloomberg says
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July 22, 2015
16:26 EDTCCiti releases results of 2015 Dodd-Frank Stress Test
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12:58 EDTCCiti says to wind down banking operations at Banamex USA
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12:53 EDTCFDIC announces $140M civil penalty against Citi's Banamex USA unit
The FDIC announced the assessment of a civil money penalty of $140M against Banamex USA, Century City, California, for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. In a concurrent action, the California Department of Business Oversight assessed a civil money penalty of $40M. The FDIC's penalty of $140M will be satisfied in part by the CDBO's penalty. The FDIC's penalty will be paid to the United States Department of the Treasury. In taking this action, the FDIC determined that the bank failed to implement an effective BSA/AML Compliance Program over an extended period of time. The institution failed to retain a qualified and knowledgeable BSA officer and sufficient staff, maintain adequate internal controls reasonably designed to detect and report illicit financial transactions and other suspicious activities, provide sufficient BSA training, and conduct effective independent testing.
July 21, 2015
19:51 EDTHSBCJudge rejects HSBC attempt to dismiss credit union lawsuit, Reuters says
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10:58 EDTCCiti fined $70M, ordered by CFPB to provide $700M in relief
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06:08 EDTHSBCU.K. watchdog visited Barclays 186 times in 2014, Bloomberg reports
The FCA's supervisory team made 186 visits to Barclays (BCS) in 2014, more than any other British bank that year, Bloomberg reports. HSBC (HSBC) was next highest with 85 visits, with RBS (RBS) and Lloyds (LYG) following with 65 and 58 encounters, respectively, the report says. Reference Link
July 20, 2015
16:01 EDTCOptions Update; July 20, 2015
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13:03 EDTCFed proposes final rule on capital surcharges for largest U.S. banks
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